EBRD and Spain join forces to support Ukraine’s food security and municipal sector

The European Bank for Reconstruction and Development (EBRD) and the government of Spain are cooperating to shore up Ukraine’s food security and its municipal sector.  

Spain, a founding member of the EBRD, signed an agreement to provide guarantees worth up to €100 million to support the Bank’s operations in Ukraine’s municipal sector, as well as for food security in Ukraine and other EBRD investee economies affected by the war on Ukraine. 

“Boosting agricultural production and securing the agricultural value chain in Ukraine are critical to ensuring food security. The EBRD’s investments are also helping to avert a global food crisis by addressing risks to the supply of vital foods,” the Bank said in a press release. “In addition, many cities and municipal facilities are being severely affected by the war. The EBRD is focused on providing emergency liquidity to hard-pressed municipalities to ensure their continued operation and the uninterrupted provision of essential services, such as district heating, water and wastewater, solid waste and public transport.”

Spain joins a number of donors that have responded through the EBRD to the financial and technical support needs brought about by the war on Ukraine. Some €1.4 billion has been made available to date for operations aimed at keeping the Ukrainian economy going and ensuring energy security, transportation and support for small businesses, among other things.

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Press release